Hungarian Prime Minister Viktor Orban said that for his country the new European Union sanctions package, which includes an embargo on oil imports, is tantamount to an “atomic bomb”. And Budapest will not support a package of sanctions against Russian oil and gas.

It is reported by Reuters.

He said the European Commission’s current proposal to ban Russian oil imports would be tantamount to an “atomic bomb” being dropped on the Hungarian economy, adding that Hungary is ready to negotiate if it sees a new proposal that is in his country’s interests.

Orban said it would take Hungary 5 years and huge investments in their refineries and pipelines to be able to transform their current system, which relies on about 65% Russian oil.

“We know exactly what we need, first of all, we need 5 years to complete this whole process … 1-1.5 years is not enough for anything,” Orban said.

In addition, the head of the Hungarian government questioned whether it is reasonable to invest on such a scale to get results in 4-5 years, while the war is going on in Ukraine. He said that Hungary is waiting for a new proposal from the European Commission.

“I don’t want to oppose the EU, but I want to cooperate … but this is only possible if they take into account our interests,” he said.

Orban also said that Hungary would not support the blacklisting of the Moscow Patriarch Kirill, who continues to justify the war unleashed by the Russian Federation in Ukraine. According to Orban, this is “a matter of religious freedom.”

Recall that in France they said that the EU countries will reach a consensus on an embargo on Russian oil by the end of the week .

Read also: